Monday Market Update I 26-Feb-2024
Oil prices dropped due to the strengthening dollar, raising concerns over inflation and the potential delay of cuts to U.S. interest rates, thereby impacting global fuel demand.
Meanwhile, Asian stocks remained near a seven-month high as investors awaited inflation updates from the US, Japan, and Europe to gauge future rate adjustments.
Japanese consumer price figures, anticipated to reveal a slowdown, are slated for release on Tuesday. Moreover, EU inflation data, expected to demonstrate a decline, is set to be published on Friday, potentially influencing ECB policy decisions.
In the US, an eventful week is anticipated, featuring key reports on durable goods, consumer confidence, GDP, core PCE, initial jobless claims, and manufacturing PMIs.
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